How does the accuracy of prediction markets compare to public opinion polls?

Question

Quizplus · Accepted Answer

Studies have shown that prediction markets tend to provide more accurate forecasts than public opinion polls. Prediction markets rely on the collective wisdom of many individuals, who may have access to diverse information and perspectives, and are incentivized to make accurate predictions. In contrast, public opinion polls rely on a smaller sample of individuals who may not be representative of the population as a whole, and who may be subject to various biases and errors in responding to questions.

How Does the Accuracy of Prediction Markets Compare to Public